Regulatory Alerts2010-10-05
Added · Updated
Guideline on Minimum Security Standards for Banking Institutions
The Bank of Namibia issues Guideline BIG-2 to establish minimum physical security standards for all banking institutions authorized to conduct business in Namibia, repealing Circular BIA 3/09. The guideline mandates specific security measures, including 26 mm bullet-resistant glass at teller windows, CCTV coverage, and dual-transmission alarm systems with off-site monitoring. It requires distinct access controls for administration areas and vaults, such as dual-control mechanisms and segregated key custody, alongside regular on-site inspections by the Bank.
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